Reply to Gaithersburg Principal leaving MCPS

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[quote=Anonymous]If you have enough years in the system, you can retire, collect your pension, and also collect a paycheck. The bigger question is, why wouldn’t you do that? Once you've maxed out your pension, there isn’t a lot to be gained by staying. You can invest the pension, live on the new income, and have a lot more security later on in retirement. There’s a catch if you collect social security before retirement age, in which case there’s a ceiling on what you can earn without being taxed, but if you don’t start collecting social security payments there’s no ceiling on what you can earn.

Needless to say, you have to be marketable. If you want to make the same $ or more, and you’re making, say, 180k and would collect a pension of 124k if you left, but you only can find a job that would pay you $100k, then you’d be taking a financial hit by leaving. I know teachers at the top of the pay scale who are staying until retirement age or at least until they have more financial security because they wouldn’t be able to make as much money anywhere else. I also know teachers who don’t care that they’ll take a hit because they’re so miserable. Long way of saying, it’s a complicated financial and personal assessment. For someone like Dimmick, who is respected and clearly was able to find another high paying job (and presumably isn’t collecting social security yet), leaving will allow him to double dip. He can take his 124k or whatever pension, and also make another 180 or whatever as a principal in another county. He could be miserable in mcps, or he could just be making a smart financial decision. Anything anyone speculates here is just a guess.[/quote]

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